Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by Keel Point LLC

Keel Point LLC cut its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 7.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,789 shares of the technology company’s stock after selling 1,987 shares during the quarter. Keel Point LLC’s holdings in Check Point Software Technologies were worth $3,114,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sciencast Management LP purchased a new stake in shares of Check Point Software Technologies in the second quarter valued at approximately $1,161,000. Brookstone Capital Management raised its holdings in Check Point Software Technologies by 2.8% in the 2nd quarter. Brookstone Capital Management now owns 4,394 shares of the technology company’s stock valued at $549,000 after acquiring an additional 120 shares during the last quarter. Tsfg LLC acquired a new stake in Check Point Software Technologies in the 2nd quarter valued at about $45,000. AE Wealth Management LLC boosted its holdings in shares of Check Point Software Technologies by 9.4% during the 2nd quarter. AE Wealth Management LLC now owns 5,745 shares of the technology company’s stock worth $722,000 after purchasing an additional 495 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Check Point Software Technologies by 8.3% during the 2nd quarter. SG Americas Securities LLC now owns 29,041 shares of the technology company’s stock worth $3,648,000 after purchasing an additional 2,237 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wedbush lifted their price objective on Check Point Software Technologies from $135.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Citigroup raised their target price on Check Point Software Technologies from $125.00 to $135.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 29th. StockNews.com assumed coverage on Check Point Software Technologies in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. OTR Global downgraded shares of Check Point Software Technologies to a “positive” rating in a report on Monday, July 10th. Finally, BMO Capital Markets upped their price target on Check Point Software Technologies from $133.00 to $140.00 and gave the stock a “market perform” rating in a research note on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $136.59.

Check Point Software Technologies Stock Performance

NASDAQ CHKP traded up $1.21 during trading hours on Tuesday, hitting $136.79. The company had a trading volume of 107,782 shares, compared to its average volume of 860,425. The business has a 50 day moving average of $131.04 and a 200-day moving average of $127.98. Check Point Software Technologies Ltd. has a 1-year low of $107.54 and a 1-year high of $137.54. The company has a market cap of $16.52 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 2.51 and a beta of 0.65.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Wednesday, July 26th. The technology company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.10. Check Point Software Technologies had a net margin of 35.43% and a return on equity of 29.80%. The company had revenue of $588.70 million for the quarter, compared to the consensus estimate of $589.66 million. During the same period last year, the firm posted $1.40 EPS. Check Point Software Technologies’s revenue for the quarter was up 3.1% on a year-over-year basis. Sell-side analysts expect that Check Point Software Technologies Ltd. will post 7.14 earnings per share for the current fiscal year.

Check Point Software Technologies Profile

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a multilevel security architecture, cloud, network, mobile devices, endpoints information, and IOT solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against fifth generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.